Amid tense and uncertain times, two leaders of the National Association of Black Accountants describe their emotions and a sense of hope that they can produce positive change in the accounting profession and their communities.
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Leave-based donation program available during pandemic
The IRS announced that employers may make donations this year to charitable organizations that provide relief to COVID-19 pandemic victims in exchange for personal leave that their employees forgo.
GASB proposes accounting guidance for CARES Act aid
GASB issued a proposed technical bulletin that would help state and local governments account for funds they received from programs included in the CARES Act pandemic relief legislation.
Take care of your staff’s mental health during COVID-19
Isolation, boredom, uncertainty, stress, and anxiety can all take a toll on staff’s mental health during the pandemic. Try these tactics to support staff and boost their spirits during difficult times.
FASB addresses insurance, convertible instruments, gifts-in-kind
FASB proposed delaying the effective date of its new long-duration insurance contracts standard. The board also voted to approve standards on improving convertible instruments and contracts in an entity’s own equity and not-for-profit accounting for gifts-in-kind.
AICPA issues guidance on accounting for forgivable PPP loans
Nongovernmental entities have some options for accounting for forgivable loans under the Paycheck Protection Program, according to the AICPA’s new Technical Question and Answer guidance for borrowers.
Together, we can make a difference: A 12-step plan to address racism and unconscious bias
Increased resources and focus will be needed to address the consequences of systemic racism and unconscious bias, writes Kimberly Ellison-Taylor, CPA, CGMA, a former AICPA chairman who is executive director, Finance Thought Leadership for Oracle.
Rules proposed for direct primary care arrangements, health care sharing ministries
The IRS issued proposed regulations defining direct primary care arrangements with doctors and health care sharing ministries and how payments for them can qualify as Sec. 213 medical expenses.
Fed expands Main Street Lending Program to more businesses
The Federal Reserve Board announced revisions to the Main Street Lending Program that make it possible for more small and midsize businesses to receive financial support.
AICPA recommends changes to e-signature requirements
In a letter to the IRS, the AICPA asked the IRS to permanently amend its electronic signature procedures to make it easier for taxpayers and practitioners to e-file all types of returns.
Partial PPP loan forgiveness remains if 60% threshold not met
Paycheck Protection Program loan recipients can receive partial loan forgiveness even if they don’t spend at least 60% of their PPP funds on payroll, Treasury and the US Small Business Administration said.
PPP forgiveness changes coming as Senate passes House bill
The Senate passed a House bill that gives small businesses and other entities that received loans from the Paycheck Protection Program 16 additional weeks to spend the funds and qualify for full forgiveness of the loans.
GASB addresses subscription-based technology arrangements
GASB issued a standard that specifically addresses accounting and financial reporting for subscription-based technology arrangements used by state and local governments.
4 key COVID-19 audit risks for 2020 year ends
The coronavirus pandemic has created special challenges for practitioners to consider related to internal control, fraud, legal compliance, and accounting estimates. Here’s how auditors can address these risks.
Qualified opportunity zone rules are relaxed
In response to the COVID-19 pandemic, the IRS further postponed the 180-day deadline to invest in a qualified opportunity fund from July 15, 2020, to Dec. 31, 2020, extended other deadlines, and relaxed some qualified investment rules.
Falling demand, safety concerns fuel finance leaders’ pessimism
Optimism reigned for years in a quarterly survey of finance decision-makers, but the COVID-19 pandemic changed everything.
IRS permits remote signatures for plan loan consents
In another response to the COVID-19 pandemic, the IRS is allowing retirement plan participants who want to take coronavirus-related distributions from their retirement plans to provide remote signatures, even for spousal consents.
FASB issues limited revenue recognition, lease accounting delays
FASB issued an option to delay implementation of the board’s revenue recognition and lease accounting standards for certain entities that have not yet applied the standards.
How the CARES Act has affected business valuation
Legislation designed to help businesses during the coronavirus pandemic has created new issues for CPAs and other valuation specialists to consider. New AICPA FAQs address these valuation concerns.
Protecting seniors from COVID-19 fraud
CPAs can help thwart bad actors from cashing in on seniors during the global pandemic.
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From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
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Current Developments in Taxation of Individuals: Part 1
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